Earnest Partners LLC grew its position in Altra Industrial Motion Corp (NASDAQ:AIMC) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,579,589 shares of the industrial products company’s stock after purchasing an additional 21,044 shares during the quarter. Earnest Partners LLC owned approximately 5.40% of Altra Industrial Motion worth $75,978,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its position in Altra Industrial Motion by 4.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 31,041 shares of the industrial products company’s stock worth $1,493,000 after acquiring an additional 1,357 shares during the period. Brown Advisory Inc. bought a new stake in Altra Industrial Motion in the 3rd quarter valued at $355,000. Schwab Charles Investment Management Inc. increased its holdings in Altra Industrial Motion by 3.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 175,558 shares of the industrial products company’s stock valued at $8,445,000 after buying an additional 5,914 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Altra Industrial Motion in the 3rd quarter valued at $266,000. Finally, Citadel Advisors LLC increased its holdings in Altra Industrial Motion by 39.1% in the 3rd quarter. Citadel Advisors LLC now owns 57,797 shares of the industrial products company’s stock valued at $2,780,000 after buying an additional 16,242 shares during the period. 99.25% of the stock is currently owned by institutional investors.
Altra Industrial Motion Corp (NASDAQ:AIMC) opened at $47.65 on Friday. The stock has a market cap of $1,390.00, a PE ratio of 24.17 and a beta of 1.66. The company has a current ratio of 2.69, a quick ratio of 1.57 and a debt-to-equity ratio of 0.77. Altra Industrial Motion Corp has a 52-week low of $34.80 and a 52-week high of $50.00.
Altra Industrial Motion (NASDAQ:AIMC) last issued its quarterly earnings results on Friday, October 20th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Altra Industrial Motion had a net margin of 4.92% and a return on equity of 16.30%. The business had revenue of $214.60 million for the quarter, compared to the consensus estimate of $210.79 million. During the same quarter in the prior year, the company earned $0.35 EPS. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. analysts forecast that Altra Industrial Motion Corp will post 2.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 18th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.68 dividend on an annualized basis and a yield of 1.43%. Altra Industrial Motion’s payout ratio is presently 48.23%.
AIMC has been the topic of several analyst reports. Zacks Investment Research raised shares of Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Thursday, October 5th. ValuEngine lowered shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BMO Capital Markets reissued a “buy” rating and issued a $53.00 price target on shares of Altra Industrial Motion in a report on Wednesday, September 6th. Robert W. Baird restated a “neutral” rating on shares of Altra Industrial Motion in a research note on Monday, October 23rd. Finally, Sidoti downgraded shares of Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 target price on the stock. in a research note on Wednesday, October 4th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Altra Industrial Motion has a consensus rating of “Hold” and a consensus target price of $49.20.
In other news, Director Lipscomb S. Michael sold 25,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $48.34, for a total value of $1,208,500.00. Following the completion of the sale, the director now directly owns 15,848 shares of the company’s stock, valued at approximately $766,092.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Craig Schuele sold 1,685 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $50.00, for a total value of $84,250.00. Following the completion of the sale, the vice president now directly owns 71,201 shares of the company’s stock, valued at $3,560,050. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,709 shares of company stock worth $2,233,977. Corporate insiders own 3.20% of the company’s stock.
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Altra Industrial Motion Profile
Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. It manufactures a range of couplings suitable for various industrial and specialty applications.
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